I know that feeling. Not quite my worst performing investment and they are only 2% of my portfolio. Problem is they should be 3% and I thought they would grow to be closer to 5%.
Can’t believe how slow they have been getting Bibra up and accredited at Tier 3 level. They have so much going for them but as I remind people having a good idea or lots of potential is only the start; you have to be able to put it into action and deliver. These guys just seem unable to gain momentum. I’m not giving up on them yet but if I had to liquidate something to buy a hot prospect, they are on my shortlist.
I thought by now we would be seeing a growth plan to get revenues up to $5-10m/annum which would easily underpin a MC of $20-30m and yet we are firmly glued to the $12-14m range. Interestingly, I was reading some notes I made earlier in the year about the Modular DC potential; back then I noted that they expected to earn $1m/MW/year. The recent quarterly stated that DC2 expect the mid west site to increase to 2MW by year end. That alone could earn $2m revenue annually but they need to sell it!!!!!!
Come on guys, show me some real action in the next couple of months. I know that a big chunk of the company is owned by the directors so SP isn’t their daily focus but they are continuing to gain more shares and surely want the SP to start to regain some of the lost value. Sometimes having too much of the holdings with the directors can be a bad thing as they are content to use the company to fund them following their dreams and not be too worried about shareholder needs. Hopefully, they will show me that I’m wrong about that.
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